March 27, 2017 / 9:55 AM / 4 months ago

BUZZ-Saudi Aramco makes unusual move to buy Indian naphtha

1 Min Read

** Aramco Trading bought a total of 88,000 tonnes of naphtha from India's Essar Oil and Reliance Industries last week, which traders say was unusual as Saudi Arabia has excess naphtha

** The trading firm of Saudi Aramco pays about $10 a tonne premium to Middle East quotes for the cargoes scheduled for April lifting

** This could not be independently confirmed as buyers and sellers do not comment on their deals

** Based on Reuters data, Aramco Trading started buying spot naphtha for the first time in 2014, locking nearly 200,000 tonnes for July-August 2014 loading from Kuwait, Bahrain and Qatar (Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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